In wake of the release of the August non-farm payrolls numbers, multiple sources across the industry are confirming to Forex Magnates’ reporters that this week has marked the most active trading in foreign exchange, since the beginning of the year.
As traders are returning to their desks following the summer months, and as FX volatility factors can no longer be ignored, we could be in for a very strong growth in trading volumes during September.
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Yesterday’s ECB press conference triggered the biggest fall in the euro since October 2011, when the European Sovereign Debt crisis shattered the euro. According to data from KCG’s Hotspot FX, their daily volumes on Thursday totaled $56 billion (single count), which is almost double the company’s average daily volumes throughout 2014.
Forex Magnates reached out to sources across major FX brokers and established that the electronic trading volume on KCG’s Hotspot is not an exception. They reiterated that even before the release of the non-farm payrolls number, they were certain that the first week of September would be the best week for FX business this year.